Stocks making the biggest moves midday: Boeing, Disney, Berkshire Hathaway and more
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Check out the companies making headlines in midday trading.
Boeing — Shares fell about 4% after a Boeing 737 passenger jet crashed in China with 132 people on board. China's civil aviation agency lost contact with the flight over Wuzhou, and the number of deaths is currently unknown.
Air Products and Chemicals — The specialty chemical stock gained nearly 1% after JPMorgan upgraded Air Products and Chemicals to overweight from neutral. JPMorgan said the stock's rough start to a year had created a discount relative to a rival chemical stock with several possible catalysts coming up.
Berkshire Hathaway — Berkshire Hathaway (BRK.A) shares rose 1.9% on news that it would buy insurance company Alleghany for $11.6 billion in cash, or $848.02 per share. Shares of Alleghany, which will operate as an independent subsidiary of the Omaha, Nebraska-based conglomerate, soared 24% following the news.
Manchester United — Shares of Manchester United rose more than 4% after Deutsche Bank upgraded the stock to a buy from hold and said it was trading at a discount.
General Motors — Shares of General Motors fell 2.8% as Morgan Stanley lowered its price target to $50 per share and reiterated the auto company as equal weight. Analysts said they were concerned about inflation and ongoing supply chain disruptions which could affect demand.
Disney — Disney shares fell 1.9% on Monday. It comes as the entertainment company announced it would close its Shanghai Disney Resort amid a Covid outbreak in China.
Silvergate Capital — Shares of the crypto-focused bank rose 0.6% after Bank of America rated the stock as a buy and said it offers investors an «alternative way to gain exposure to the growth of the digital asset ecosystem.»
Niels
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